There’s a sad, sad truth about this. We don’t teach well enough about personal finance. Our society lives on credit and debt. Very little desire to save up the cash to buy something so we put it on a credit card, take out a lease on a car, or a loan for this and for that.
So we can’t afford to buy the item outright, but we can afford to buy the item and put it on a credit card or a loan, and then pay interest on it so that it actually costs more…….sound logic.
Even worse, is that the financial business call those that pay off their credit card every month and don’t pay a penny in interest “deadbeats.”
There’s a sad, sad truth about this. We don’t teach well enough about personal finance. Our society lives on credit and debt. Very little desire to save up the cash to buy something so we put it on a credit card, take out a lease on a car, or a loan for this and for that.
So we can’t afford to buy the item outright, but we can afford to buy the item and put it on a credit card or a loan, and then pay interest on it so that it actually costs more…….sound logic.
Even worse, is that the financial business call those that pay off their credit card every month and don’t pay a penny in interest “deadbeats.”